This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Here are five key things investors need to know to start the trading day:
1. Witching hour
A trader works at his desk on the floor of the New York Stock Exchange (NYSE) after the opening bell in New York on December 3, 2025. Timothy A. Clary | Afp | Getty Images
Wall Street could be in for a wild trading day when options on four types of securities expire: index options, single stock options, index futures and index futures options. "Quadruple witching" day happens just four times a year and this one's set to be a monster. Here's what to know: Stock futures were little changed in premarket trading, a day after the S&P 500 Dow Jones Industrial Average inflation report, though with caveats.
inflation report, though with caveats. Goldman Sachs says today will be a record with more than $7.1 trillion in notional options exposure set to expire, including $5 trillion tied to the S&P 500 index and $880 billion linked to single stocks.
December options expirations are usually the year's biggest, but this one eclipses all records, Goldman said.
This week, the S&P 500 and 30-stock Dow are down about 0.8% and 1%, respectively. The Nasdaq is down 0.8% week to date.
Meanwhile, TikTok CEO Shou Zi Chew told employees that the company's U.S. operations will be housed in a new joint venture.
Follow live market updates here.
2. Nike's obstacle course
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